Africa’s Richest Man, Dangote advises young entrepreneurs to invest in ICT and agriculture

Aliko Dangote

Africa's richest man, Aliko Dangote, has advised young entrepreneurs to invest in ICT and agriculture, describing them as the two promising sectors.

Dangote stated this at the 2019 Mo Ibrahim Forum where he also declared that he has no personal house outside Nigeria.

Dangote hinted that he avoids luxury things “because they distract and take time”.

Dangote said: “I don’t have any holiday home anywhere. I don’t have a house anywhere but I know people who are working for me…they have houses in London.”

“But you see, a lot of people, even the younger ones, we need to be very careful because one of biggest issues with us as Africans is that we spend our projected incomes.

“Once you start doing business [and] it starts doing well, but rather than for you to invest more in the business, you start spending thinking that profit will continue to come.

“There are ups and downs in business so you need to be very focused.”